Heidmar and MGO Global Successfully Complete Business Combination
MGO Global Inc. (MGOL) and Heidmar Inc. have successfully completed their business combination, forming Heidmar Maritime Holdings Corp. The newly formed entity will begin trading on the Nasdaq Capital Market on February 20, 2025, under the ticker symbol 'HMR'. Both MGO and Heidmar will become wholly owned subsidiaries of Holdings.
The transaction was supported by Maxim Group as exclusive financial advisor to MGO, and Seaborne Capital Advisors as exclusive financial advisor to Heidmar. Legal counsel was provided by Sichenzia Ross Ference Carmel, LLP for MGO and Seward & Kissel LLP for Heidmar and Holdings.
MGO Global Inc. (MGOL) e Heidmar Inc. hanno completato con successo la loro combinazione aziendale, formando Heidmar Maritime Holdings Corp. La nuova entità inizierà a essere quotata sul Nasdaq Capital Market il 20 febbraio 2025, con il simbolo ticker 'HMR'. Sia MGO che Heidmar diventeranno filiali interamente possedute di Holdings.
La transazione è stata supportata da Maxim Group come consulente finanziario esclusivo per MGO e da Seaborne Capital Advisors come consulente finanziario esclusivo per Heidmar. L'assistenza legale è stata fornita da Sichenzia Ross Ference Carmel, LLP per MGO e da Seward & Kissel LLP per Heidmar e Holdings.
MGO Global Inc. (MGOL) y Heidmar Inc. han completado con éxito su combinación empresarial, formando Heidmar Maritime Holdings Corp. La nueva entidad comenzará a cotizar en el Nasdaq Capital Market el 20 de febrero de 2025, bajo el símbolo ticker 'HMR'. Tanto MGO como Heidmar se convertirán en subsidiarias de propiedad total de Holdings.
La transacción fue respaldada por Maxim Group como asesor financiero exclusivo de MGO, y por Seaborne Capital Advisors como asesor financiero exclusivo de Heidmar. El asesoramiento legal fue proporcionado por Sichenzia Ross Ference Carmel, LLP para MGO y por Seward & Kissel LLP para Heidmar y Holdings.
MGO Global Inc. (MGOL)과 Heidmar Inc.가 성공적으로 사업 결합을 완료하여 Heidmar Maritime Holdings Corp.를 설립했습니다. 새로 형성된 법인은 2025년 2월 20일부터 Nasdaq Capital Market에서 'HMR'이라는 티커 기호로 거래를 시작할 것입니다. MGO와 Heidmar는 모두 Holdings의 완전 소유 자회사가 됩니다.
이번 거래는 MGO의 독점 재정 고문인 Maxim Group과 Heidmar의 독점 재정 고문인 Seaborne Capital Advisors의 지원을 받았습니다. 법률 자문은 MGO의 경우 Sichenzia Ross Ference Carmel, LLP가, Heidmar와 Holdings의 경우 Seward & Kissel LLP가 제공했습니다.
MGO Global Inc. (MGOL) et Heidmar Inc. ont réussi à finaliser leur combinaison d'affaires, formant Heidmar Maritime Holdings Corp. La nouvelle entité commencera à être cotée sur le Nasdaq Capital Market le 20 février 2025, sous le symbole boursier 'HMR'. MGO et Heidmar deviendront toutes deux des filiales entièrement détenues de Holdings.
La transaction a été soutenue par Maxim Group en tant que conseiller financier exclusif de MGO et par Seaborne Capital Advisors en tant que conseiller financier exclusif de Heidmar. Le conseil juridique a été fourni par Sichenzia Ross Ference Carmel, LLP pour MGO et par Seward & Kissel LLP pour Heidmar et Holdings.
MGO Global Inc. (MGOL) und Heidmar Inc. haben erfolgreich ihre Unternehmenszusammenlegung abgeschlossen und die Heidmar Maritime Holdings Corp. gegründet. Die neu gegründete Einheit wird am 20. Februar 2025 unter dem Tickersymbol 'HMR' am Nasdaq Capital Market gehandelt. Sowohl MGO als auch Heidmar werden zu hundertprozentigen Tochtergesellschaften von Holdings.
Die Transaktion wurde von Maxim Group als exklusivem Finanzberater für MGO und von Seaborne Capital Advisors als exklusivem Finanzberater für Heidmar unterstützt. Die rechtliche Beratung wurde von Sichenzia Ross Ference Carmel, LLP für MGO und von Seward & Kissel LLP für Heidmar und Holdings bereitgestellt.
- Successful completion of business combination leading to Nasdaq listing
- Enhanced market presence through new trading symbol HMR
- Strategic consolidation of operations under Heidmar Maritime Holdings
- Potential integration challenges between two distinct business models
- Uncertainty regarding shareholder value post-merger
Insights
The merger completion marks a pivotal transformation for both MGO Global (MGOL) and Heidmar, creating a unique entity that combines digital consumer brands with maritime operations. This unusual combination raises several critical considerations for investors:
The immediate impact is significant as MGOL will cease to exist as a separate trading entity, with the new company trading under 'HMR' on the Nasdaq Capital Market. For current MGOL shareholders, this represents a fundamental shift in their investment thesis, transitioning from a pure-play digital lifestyle company to exposure in the maritime sector.
The involvement of prominent financial advisors - Maxim Group and Seaborne Capital Advisors - suggests a complex transaction structure that required specialized expertise in both the consumer and maritime sectors. The choice of legal counsel, particularly Seward & Kissel LLP, known for their maritime expertise, indicates a transaction weighted toward the shipping industry's interests.
Under CEO Pankaj Khanna's leadership, the combined entity appears positioned to leverage Heidmar's established presence in the maritime sector, which includes strategic operations in three critical shipping segments: drybulk, crude oil, and refined petroleum products. This diversification across maritime segments could provide more stable revenue streams compared to MGOL's previous business model.
The timing of this transaction, amid significant global shipping market dynamics and supply chain transformations, suggests a strategic move to capitalize on maritime sector opportunities. However, investors should carefully evaluate how the integration of MGO's digital capabilities might enhance Heidmar's traditional maritime operations, as the synergy potential between these disparate business models remains to be proven.
Heidmar to Commence Trading Under Ticker “HMR” on
The Nasdaq Capital Market Tomorrow Morning, February 20, 2025
MIAMI - LONDON, U.K. - ATHENS, Greece , Feb. 19, 2025 (GLOBE NEWSWIRE) -- MGO Global Inc. (Nasdaq: MGOL), a digitally-native, lifestyle brand portfolio company, (“MGO,” "MGO Global” or the “Company”), and Heidmar, Inc., a global commercial and pool management business serving the drybulk, crude oil and refined petroleum product tanker market ("Heidmar"), today jointly announced the successful completion of the business combination (the “Business Combination”), resulting in each of MGO and Heidmar becoming wholly owned subsidiaries of Heidmar Maritime Holdings Corp. (“Holdings”). Holdings will commence trading on The Nasdaq Capital Market tomorrow morning, February 20, 2025, under the ticker symbol “HMR”.
Commenting on the closing of the transaction, Pankaj Khanna, Chief Executive Officer of Holdings, noted, “First we’d like to acknowledge and thank the teams of people who worked diligently and collaboratively around the clock to successfully close this Business Combination. Our resulting new Nasdaq listing under ticker ‘HMR’ represents a vital step forward on what we believe will be a transformative path for Heidmar, positioning our Company to deliver new and enduring value to all of our stakeholders while empowering us to set entirely new standards of excellence for our industry.”
Advisors
Maxim Group LLC is serving as the exclusive financial advisor to MGO in connection with the Merger and Seaborne Capital Advisors is serving as exclusive financial advisor to Heidmar. Sichenzia Ross Ference Carmel, LLP is serving as legal counsel to MGO and Seward & Kissel LLP is serving as legal counsel to Heidmar and Holdings.
About Heidmar, Inc.
Celebrating its 40th anniversary in 2024, Heidmar is an Athens based, first-class commercial and pool management business servicing the crude and product tanker market and is committed to safety, performance, relationships and transparency. With operations in Athens, London, Singapore, Chennai, Hong Kong and Dubai, Heidmar has a reputation as a reliable and responsible partner with a goal of maximizing our customers' profitability. Heidmar seeks to offer vessel owners a "one stop" solution for all maritime services in the crude oil, refined petroleum products and dry bulk shipping sectors. Heidmar believes its unique business model and extensive experience in the maritime industry allows the Company to achieve premier market coverage and utilization, as well as provide customers in the sector with seamless commercial transportation services. For more information, please visit www.heidmar.com.
About MGO Global Inc.
MGO Global is actively engaged in building a portfolio of independent, digitally native, lifestyle brands, which are unique and differentiated, yet all defined by distinctive, high-quality products and a shared commitment to delivering high-touch customer experiences across its ecommerce and wholesale channels. MGO is currently comprised of two business units: Americana Liberty, which markets a growing, high-end line of thoughtfully curated home and outdoor products, including Stand Flagpoles; and MGO Digital, which leverages data analytics, advanced technology-enabled marketing and our leadership's industry relationships and expertise to identify, incubate and introduce to market new, authentic lifestyle brand concepts. For more information on MGO, please visit www.mgoglobalinc.com.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws with respect to the transaction between Holdings, MGO and Heidmar. All statements other than statements of historical facts contained in this press release, including statements regarding Holdings', MGO Global's or Heidmar's future results of operations and financial position, Holdings', MGO's and Heidmar's business strategy, prospective costs, timing and likelihood of success, plans and objectives of management for future operations, future results of current and anticipated operations of Holdings, MGO and Heidmar, and the expected value of the combined company after the transactions, are forward-looking statements. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including, but not limited to, the following risks relating to the proposed transaction: the occurrence of any event, change or other circumstances that could give rise to the termination of the transaction agreement; the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect the price of MGO's securities; the occurrence of any event, change or other circumstances that could give rise to the termination of the transaction agreement; the inability to complete the transactions contemplated by the transaction agreement, including due to failure to obtain approval of the shareholders of MGO or other conditions to closing in the transaction agreement; the inability to obtain or maintain the listing of Holdings ordinary shares on Nasdaq following the transaction; the risk that the transactions disrupt current plans and operations of MGO as a result of the announcement and consummation of the transactions; the ability to recognize the anticipated benefits of the transactions, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth economically and hire and retain key employees; costs related to the transactions; changes in applicable laws or regulations; the possibility that Holdings, Heidmar or MGO may be adversely affected by other economic, business, and/or competitive factors; and other risks and uncertainties to be identified in the proxy statement/prospectus (when available) relating to the transactions, including those under "Risk Factors" therein, and in other filings with the SEC made by Holdings and MGO. Moreover, Holdings, Heidmar and MGO operate in very competitive and rapidly changing environments. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and some of which are beyond Holdings', Heidmar's and MGO's control, you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and except as required by law, Holdings, Heidmar and MGO assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. None of Holdings, Heidmar or MGO gives any assurance that either Heidmar or MGO or Holdings will achieve its expectations.
CONTACT INFORMATION:
| MGO Global Inc. | Heidmar, Inc. |
| Dodi Handy, Director of Communications | Nicolas Bornozis, Investor Relations/Media |
| Telephone: 407-960-4636 | Telephone: 212-661-7566 |
| Email: ir@mgoteam.com | Email: heidmar@capitallink.com |
FAQ
When will Heidmar Maritime Holdings (HMR) begin trading on Nasdaq after the MGOL merger?
What happens to MGOL shares after the Heidmar business combination?
Who were the financial advisors for the MGOL-Heidmar merger?
What is the new corporate structure after the MGOL and Heidmar merger?
